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Asia/Pac

·Dec. 12, 2016

China’s Online Lending Originations Reach New High in November

A report from WDZJ and yingcanzixun.com titled, "2016 China Online Lending Monthly Report (Nov.)" provides insight on China's online lending market in November; says online lending originations reached a new monthly high of CNY 200 billion in November; total historical origination volume of over CNY 3 trillion; 2,454 platforms with eight new businesses and 98 entering suspension or closing down. Source

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Asia/Pac Fintech

·Jun. 16, 2020

India’s Digital Payments Market Faces Uncertain Future

India was one of the fastest growing digital payments markets before the pandemic hit and now many of the companies...

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Asia/Pac Fintech News Roundup Regulation

·Nov. 15, 2016

Australian Treasurer Promotes Regtech

Scott Morrison, Australia's treasurer, spoke about regtech at the Fintech Australia Summit; the treasurer discussed a regtech collision occurring in fintech where both crowdfunding firms and traditional banks are benefiting from increased technological innovation around regulation; likely that the marketplace lending ecosystem could see expansion in regulatory technology innovation. Source

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Asia/Pac Fintech News Roundup

·Apr. 6, 2017

Singapore Fintech Startup Announces $600,000 Fundraising

soCash has raised $600,000 in an angel funding round; firm offers a digital cash management solution for banks that plugs into its mobile app and directs cash for pickup at a nearby location; plans to use the new funding to build out its sales team and says the service can provide considerable cost savings for banks by helping to eliminate ATMs. Source

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Asia/Pac Fintech News Roundup

·Apr. 17, 2018

Kraken Shuts Down Operations in Japan

The company plans to shut down all operations in Japan by end of June 2018; overseas Japanese investors who use domestic banks will still have access to trading activities in the local market; cost and resources were the main drivers behind the decision. Source.

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Asia/Pac Fintech News Roundup Online Lending

·Feb. 7, 2017

Fintech Helping the Economy in China

Fintech is helping to increase consumer spending in China as lenders provide increased access to capital; these lenders are becoming more integrated with merchants and providing point of sale credit options; Dumaio is one example of a fintech lender that has been successful by adapting to market demand; real estate fintech platforms are also emerging in the country with Shenzhen-based Touchouwang offering domestic real estate investment opportunities and Beijing-based Uoolu offering foreign real estate investments. Source

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Asia/Pac Fintech News Roundup

·Aug. 22, 2017

Wanglian’s 13 Board Member Candidates Exposed

EEO.com has exposed 13 board member candidates of Wanglian (or Nets Union), China's newly established centralized clearinghouse for third party payments: Lai Zhiming (Tencent VP), Wang Zuogang (Alipay Director) and Ma Ji (JD Finance VP) are on the list, among other executives from People's Bank of China and its affiliated organizations. Source (Chinese)

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Asia/Pac Fintech News Roundup

·Aug. 15, 2017

NEO, China’s “Ethereum”, Soars to $1bn Cap

The native asset of NEO, formerly known as AntShares, has risen by more than 12,000% in the last seven months, according to figures from Coin Market Cap; NEO comes mostly with similar capabilities vs ethereum, just that NEO's smart contract platform NEO 2.0 supports traditional programming language while ethereum has its own programming language, Solidity; this edge will be crucial to making it a better option over ethereum for running initial coin offerings (ICOs) especially for upcoming Chinese projects. Source

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Asia/Pac Fintech News Roundup

·Jan. 9, 2017

Baidu Gains Approval for Baixin Bank

One of China's e-commerce giants, Baidu, has obtained regulatory approval for Baixin Bank; follows banking sector business activity from competitors Alibaba and Tencent; the banking unit will be digital only, offering online banking, telephone banking, ATM and mobile banking services; Baidu owns 30% of Baixin Bank and will work in partnership with China CITIC Bank which currently owns 70% of the bank. Source

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Asia/Pac Fintech News Roundup

·Apr. 17, 2017

Renren has Decreased Its Position in SoFi

Renren is a publicly traded company that operates a social networking platform and also has an investment unit that invests in private US fintech companies; Lend Academy previously wrote about Renren and their private market fintech holdings in January; Renren was one of SoFi's first investors reporting 21% ownership in the company at the end of 2015; it’s now been reported that Renren has sold a portion of its share in the company, in association with a SoFi fundraising, receiving net proceeds of $91.9 million. Source

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